Turkiye's international reserves increase

Turkiye's official international reserves in February totaled $128.5 billion, down 4% from January, Azernews reports, citing the Turkish Central Bank.

The bank's foreign exchange reserves dropped 8.2% to $71.6 billion while gold reserves rose 2.2% to $49.4 billion over the same period.

Short-term predetermined net drains of the central government and the Central Bank climbed 3.3% to $52.3 billion, including $43.6 billion in principal repayments and $8.7 billion in interest payments.

Additionally, outstanding foreign exchange and gold liabilities arising from the bank’s swap transactions with resident and non-resident banks came in at $67.2 billion, including $19.4 billion due in one month.